St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-06-22
The COMMERCIAL RECORD.
On the Chicago Beard Of Trade An OPP
pressively Weak Feeling Prevailed
at The Opening.
The Aspect Of Wheat Made Operators De-
Cidedly Blue, but They Soon
Braced Up.
July Fluctuated Within Fractions of
Cent, and Finally Closed at About
zoe Bid.
Transactions in the Financial Circles of
Wall Street.-The General
Market.
Special to the Globe.

Special to the Globe.
CHICAGO, June 21.-Before noon to-day the
market developed into q serious case of
dumps There were depresSions i'll the at
mosphere of the wheat pit, caused by July
being near at hard, and somebody must take
the stuff. Just who the person or persons
are is unknown, but the clique will be repre-
sented. The failure of the Fidelity bank
caused connection. Following close upon
this intelligence came the depressing rumor
that many drafts which certain commission
houses had drawn on country customers to
cover margins were being returned protested.
The sales of wheat during the morn
ing were very heavy. The banks which
have been interested in the recent
bull movement unloaded heavily. The
larger transactions were made at 697Sc.
How win Kershaw settler was the query
many times heard on the board to-day. The
question was answered frequently i'll about
this fashion: IF Eggleston is found to be
liable and Kershaw's creditors are found to
have legal claim on EggleSton's wealth,
KerShaw ought TO pay at least so cents on
the dollar. If Eggleston is not liable, very
few of the creditors seriously expect to real
ize much, If anything 1t was reported that
Hamill Il Brine
SAW DAYLIGHT AHEAD
and would speedily ask their creditors for a
composition. For the promise of this bit of
blue sky many are disposed to be duly CRATE
full. The impression is that Hamill 4 Brine
will meke a better offer than Bailey Il Co. yes
terday. just before noon July wheat began to
plunge, bringing up at 691sc. Here the
option remained stationary for ten minutes,
and then sank TO 6S94c, the lowest figure for
July wheat in a quarter of Il century. A. M.
Wright is understood 10 have been large
oil of I,lI 10 ICx fnr no
of Irwin, Green & Co. Corn developed con-
siderable weakness under the heavy selling
of long stuff, caused, it is claimed, by recent
rains in the West and an excellent outlook
for the coming crop. s. d. Eldredge was to-
day seeking an adjustment with his creditors.
He offers So cents on the dollar cash and
claims on Crafts, Kershaw & Rosenfeld for
the balance. At 1 o'clock June wheat closed
at 6s34c, July at 69s4c; July corn at 361s0
36Ac; July oats at 25lsc; July lard at
S6.22I2, and July short ribs at S7.2212.
THE ROUTINE REPORT.
CHICAGO, June 2l-An oppressively weak
ening prevailed in wheat at the opening and
trades were feeling decidedly blue. July
opened Csc lower at 69l2c, but some little eff
fort was made TO sustain the market and
few minutes later July was selling at 6934c.
The support was only temporary. however,
and bank wheat being put on the market,
July soon reacted to 69l2c, around which
figure it held steady during the first hour of
the session; at the end of that time the tail
ers' found that they had sold themselves
short and began to cover and July went up
to T0l2c under this influence. The market
ing of bank wheat again caused July to ease
back to 69s4c. There was no let up i'll the
sales of wheat for the account of the banks
to-day and the realizing continued straight
up to the close of the session. The effect
of the general selling was to break
wheat from 69l2c to 6Ss4c for
July, the latter figure being reached about
noon. At the bottom price there were many
good buying orders and the reaction sent the
price of July up to 6Ss4c at which figure the
morning session closed. Heavy exports from
the Seaboard and covering by the short inter
est made the afternoon market stronger. July
sold up to IOSsc and closed at zoe. The f1uc-
tuation in June was very marked 1t opened
at 6S34c and closed at 69c Corn was mod
erately active with the feeling somewhat I'M
settled. Prices were generally weak and
lower. Trading was largely local and offer
ings were quite free, but the demand was
very light. The weaker feeling which pre-
vailed during the early hours of the session
also had depressing effect. July opened at
36c and sold down to 354e, but in sympathy
with wheat during the afternoon session
reacted. closing at 3614c: Oats were dull
and weak There was little speculative in
terest centered in the market July opened
l2c lower at 25Ac. sold down to Csc. and
closed at the opening figure. Quite an active
speculative business was transacted in the
provision market, but the feeling was greatly
unsettled and prices ruled weak and lower.
Offerings were quite liberal, while the de-
mand was only fair and mainly from parties
who covered outstanding contracts at profit
The receipts of hogs were light and prices
ruled higher but the nervous feeling in the
grain market had considerable effect on pro-
visions July lard opened at Septic, sold
down TO ST. rs and up to $3.50, and closed at
1928. July ribs opened at S7.32l2, sold up
S7.27l2.
THE QUOTATIONS..
rnn q
Wheat-No. 2 June opened at 6S$4c, closing
at 69c; July: 69l2c. closing at zoe;
August, 72c, closing at 72ssc; September
73l2c, closing at 1850. Corn-No 2 June
opened at 57Sc, closing at 35l2c; July, 364sc
closing at 36Ac; August 3S4c, closing at
377sc; September, 394c closing at 394c
24s4c; July, 254c, closing at 25l4c; August,
251sc, closing at 254c; September, 25a4c, clos
ing at 25ssc, Mess Pork per 100 lbs-June
opened at S22, closing at S22. Lard per 100
July, %, closing at $500: August,
S6.37l2, closing at S6.35 September, So. 47l2,
closing at Sc 45. Short Ribs per 100 lbs
s o9 9as e s ciosng s at s2 q;
September, s7.55, closing at $747I2.
Cash quotations were as follows: Flour ruled
quiet, with no new features; prices are steady
at former quotations. Wheat-No. 2 spring,
6S$4c; No. e spring, nominal; No. red. 74c.
Corn-.No. 2 35asc. oats-No. 2, 24l2c.
Rye-No. y, 03c. Barley-N0. =, 5Ic. Flax
Seed--No. /, S1.19@1.20. Timothy Seed
Prime 81. 20@2.25. Mess pork, per Dbl,
So. Lard, per 100 lbs, Sc. 2tA@s. 25. Short
ribs, sides, loose, S7.20@7: IS; dry salted
sides, boxed, S7.5517 go. Whisky-Distil-
lers' finished goods S1.10 per gal. Sugar
Cut loaf, 6SS@6ssc; granulated. 6lsc; STAN
obls; wheat, $4,000 bu; corn, $4,000 bu;
oats 5000 bu; rye. 1000 bu; barley,
1000 Blu. Shipments-Flour. 5000 bbls;
coo SH o9 eSrp hu 3G SoTv D5 Zoo oats ats
On the produce exchange to-day the butter
market was steady; creamery, 14@1Sl2c:
dairy, 12l2@16c. Eggs were quiet and lower
at OIaN1 1c